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Moving Past the Commodity Supercycle: Are We There Yet?
Some analysts are predicting that the commodity price boom of the new millennium is something that has played itself out. Except for shale gas and its downward pressure on U.S. natural gas prices,...
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Elephants and Macro-Financial Linkages
Global financial integration and the linkages between the financial and the real sides of economies are sources of huge policy challenges. This is now beyond doubt, after what we saw in the run-up to...
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Brazil, Korea: Two Tales of a Macroprudential Regulation
The pervasiveness and relevance of asset price booms and busts in modern economies has now been fully acknowledged. So has the case for combining prudential regulation and monetary policy in the...
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Calibrating 2014
The global economy looks poised to display better growth performance in 2014. Leading indicators are pointing upward – or at least to stability – in major growth poles. However, for this to translate...
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Sovereign Wealth Funds Are Coming Home
Followers of this blog have read several recent pieces on the changing landscape of investment finance in developing countries, particularly in natural resource-rich countries. We have approached the...
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China and Emerging Markets: Riding Wild Horses
One month ago, I discussed some major risks to a slight upturn in the global economic scenario for 2014.
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Clogged Metropolitan Arteries
Bad conditions of mobility and accessibility to jobs and services in most metropolitan regions in developing countries are a key development issue. Besides the negative effects on the wellbeing of...
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Crisis Recovery: Flying on a Single Engine
Policy makers in the advanced economies at the core of the global financial crisis can make the claim that they prevented a new “Great Depression”. However, recovery since the outbreak of the crisis...
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Secular Stagnation: A Working Pair of Scissors Needs Two Blades
The role of asset bubbles as an unsustainable pillar of pre-2007 world economic growth has been widely recognized. Simultaneously, analysts worry that a secular stagnation, though momentarily offset by...
View ArticleThree Perspectives on Brazilian Growth Pessimism
It has become increasingly evident over the last two years that the growth engine of the Brazilian economy has run out of steam. Despite relative resilience during the global financial crisis and...
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